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Remove and discard unpopped kernels of corn. In large micrwaveable bowl, mix popcorn, cereal & nuts; set aside.
In 2cup microwaveable cup, microwave butter, brown sugar, & corn syrup uncovered on high for 1 min. 30 sec., stirring after 1 min. until mixture is boiling.
Pour over cereal mixture, stirring until evenly coated. Microwave uncovered on high about 5 min., stirring and scraping bowl after every minute, until cereal just begins to turn brown. Spread on waxed paper or foil to cool, about 15 min., stirring occasionally to break up.
In medium bowl microwave vanilla chips uncovered on high 1 min to 1 1/2 min., stirring every 30 seconds, until melted and smooth. Add 3 c. of the cooled cereal mixture to melted chips; toss gently until evenly coated. Spread on waxed paper or foil. Cool about 30 min. or until set.
In a serving bowl, mix both cereal mixtures and cranberries. Store in airtight container.
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